The ISDA 2002 Master Agreement (the 2002 Master) represents the culmination of a Strategic Documentation Review (SDR) begun by ISDA in late 1999. The aim of SDR was to update the ISDA 1992 Master Agreement (the 1992 Master) to take account of legal developments, changes in risk management practices and practical (as well as, in the case of the Russian debt and Malaysian currency crises and the collapse of Enron, bitter) experiences in the international swap markets. Certainly, all these influences are evident in the 2002 Master.
